Californians who leave save $672 a month on housing. 7 in 10 Angelenos can't afford their homes.

A new study from the California Policy Lab at UC Berkeley reveals that residents who move away from the Golden State save an average of $672 per month on housing costs. The exodus is accelerating: Los Angeles County lost 54,000 residents from 2024 to 2025, and three-quarters of renters in LA have considered leaving. This trend is not new but has intensified as home prices and rents hit record highs, while mortgage rates remain elevated. The study, led by Evan White, tracked movers and found that their destination neighborhoods are half as expensive. Renters see a typical drop of 30%—about $631 per month. The median home price in destination cities is nearly $398,000 lower, a 48% decrease. Seven years after leaving, former Californians are 48% more likely to own a home than those who stayed.

The Big Picture

California's housing affordability crisis is reshaping the state's demographics. The median home listing price in California stands at $736,500, but in major metros it's far higher: $1,096,500 in Los Angeles and $985,000 in San Francisco. On the rental side, median monthly rents are in San Francisco and in Los Angeles, compared with across the 50 largest U.S. cities. This disparity is not just a financial burden but also a social one: the Los Angeles Business Council Institute finds that despite billions in investment, housing concerns have only worsened across all demographics. A separate UCLA survey shows LA County's quality of life at its lowest recorded level.